Pension Personal Accounts – Transfer of PADA to NEST

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The necessary statutory Orders have been made, replacing earlier draft Orders, to

• wind up the Personal Accounts Delivery Authority (PADA), the body responsible for designing and procuring the administration elements of the statutory pension scheme that will be available to employers in 2012, with effect from 5 July 2010
• transfer the property, rights and liabilities of PADA to the National Employment Savings Trust (NEST) Corporation from the same date
• transfer the staff of PADA to NEST under TUPE provisions
• establish the NEST scheme and set out the necessary provisions for its administration and management.

Further information:

The Personal Accounts Delivery Authority Winding Up Order 2010

National Employment Savings Trust Order 2010

This entry was posted on Wednesday, March 31st, 2010 at 09:31 and is filed under Pensions. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.